Hi-Tech Pipes Limited announced a private placement of 300,000 shares at an issue price of INR 692 per share for gross proceeds of INR 207,600,000 and 5,700,000 pre-paid warrants at an issue price of INR 173 per share for gross proceeds of INR 986,100,000, for aggregate proceeds of INR 1,193,700,000 on November 24, 2022. The transaction will include participation from Rajasthan Global Securities Limited, Shivom Cotspin Limited, Hi-Tech Agrovision Pvt Ltd, Aks Buildcon P. Ltd, Vajra Machineries Private Limited, Nexpact Limited, Caterfield Global DMCC, AG Dynamic Funds Limited, Viney Equity Market Llp, Wow Investment Solutions Private Limited, EXPERTPRO REALTY PVT LTD. Ajay Kumar Bansal, Anish Bansal, Vipul Bansal, Saurabh Goyal & Sons HUF, Gaurav Goyal HUF, Govind Aggarwal, Govind Aggarwal HUF, Alka Goel, Mannan Goel, Bhupinder Goel, Naresh Aggarwal, Mukesh Mittal, Renu Mittal, Krishan Mittal, Naresh Kumar HUF, Vikas Aggarwal, Mrinaal Mittal,Aditya Kumar Halwasiya, Shruti Mohta, Vivek Mahavir Jain, Dipak Raheja, Sharad Goel, Amit Gupta, Hypotenuse Investment, Ten Eighty Investments, Nandura Estates, Renu Mehta, Samarth Ashok Kumar Bansal, Shyam Lal Mittal HUF, Mohan Mittal, Urvashi Mittal, Deepak Bansal, Roopali Bansal, Shakuntala Gupta, Prerna Gupta, Manisha Gupta, Himanshu Aggarwal, Prem Lata and Amisha Rai.The warrants have a total price of INR 692, of which the company will receive 25% of the total amount as upfront payment at the time of allotment of warrants and the remaining 75% will be paid upon exercise of warrants. Each warrant is exercisable to acquire one equity share of the company, at an exercise price of INR 519 per share for a period of 18 months from the date of closing.

The company will issue securities on preferential basis. The transaction has been approved by the board of directors of the company.